Company Name : Jugnoo
Funding Amount : $10mn
Funding Round : Series B
Jugnoo, an autorickshaw aggregator has closed its Series B funding round, which has been led by Paytm and saw participation from people like Kunal Shah(Freecharge) and Ankur Meattle(GIC) at a premoney valuation of $50mn.
Jugnoo had announced raising $5M while series A funding earlier this year which was led by Snow Leopard and saw participation from Paytm.
CEO Samar Singla says, “ We are growing exponentially since our launch and are aggressive to have our presence felt in all of India with 1 city being launched every 3 days.”
Having scaled to 15,000 daily transactions through a user base of 1 million, Jugnoo is operating in 25 cities and plans to be pan-India by operating in a total of 40 cities by the year-end. Given the current traction, Jugnoo forecasts to achieve its transactional target of 100,000 by February next year.